Cheapest Way to Send Money Abroad
Every international transfer has two costs: the fee you can see, and the exchange-rate markup you usually can't. The markup is often the bigger of the two. A service that advertises "no fees" can still be the most expensive option once you look at how much actually arrives.
Checked September 23, 2026.
How to check any quote in 30 seconds
- Look up the mid-market rate for your currency pair on a site such as xe.com or Google. That's the real exchange rate, with no markup.
- Multiply your amount by that rate. That's what the recipient would get with no costs at all.
- Compare it with the "recipient gets" figure in each provider's quote.
The difference is your total cost, fees and markup included. It's the only number worth comparing.
Which service for which transfer
| You need to… | Usually cheapest | Why |
| Send to a bank account, any common currency | Wise | Uses the mid-market rate and charges a visible fee, from under 0.5% on many currencies |
| Send to family, including cash pickup or mobile wallet | Remitly | Wide delivery options; its Economy option is cheaper if you can wait |
| Send cash to someone without a bank | Western Union | Hundreds of thousands of agent locations worldwide |
| Send a large amount (say over $10,000) | Wise, OFX or Xe | Rates improve with size; see sending more than $10,000 |
| Send through your bank | Rarely cheapest | Wire fee plus a markup that is often several percent |
Why banks cost more
A bank wire usually carries a $35–$50 outgoing fee. Many banks also convert the currency at a marked-up rate, and the recipient's bank, or a bank in the middle, may take another fee.
Banks do have one advantage: very high limits. They are sometimes the only option for very large amounts or unusual currencies.
Watch out for
"Zero fee" offers. Remitly and others often waive the fee on your first transfer. The markup still applies, and later transfers carry a fee.
Card funding. Paying with a credit card can be treated as a cash advance by your card issuer, which means extra fees and interest from day one. Use a bank transfer or debit card.
Speed premiums. Express delivery costs more. If the money isn't urgent, the slower option can save a few dollars on every transfer.
The recipient's side. Some banks abroad charge to receive international payments. Ask the recipient to check.
How long it takes
With Wise, common currencies often arrive within hours. Remitly Express is usually minutes. Bank wires take one to five business days, depending on the countries and banks involved. For US transfers, see how long bank transfers take.
FAQ
Is Wise safe? Wise is licensed as a money transmitter in the US and regulated in every country it operates in. Money held in a Wise account isn't FDIC-insured in the same way as a bank deposit, so move it on once it arrives.
Can I use Zelle or Venmo to send abroad? No. Zelle and Venmo only work between US accounts. See money transfer apps for the domestic options.
What if I travel and need cash abroad? Withdrawing from an ATM with a card that refunds fees and doesn't charge a foreign transaction fee is often cheaper than transferring money to yourself. See banks that refund ATM fees.
Figures and rules in this article are checked against the official sources below. Where they disagree with us, they win.
- Wise, Remitly and Western Union pricing pages
- independent comparisons (TransferGo, Statrys, 2026)
- xe.com mid-market rates
